Tax Bill Impacts U.S. Debt
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large fiscal deficitsCBS News
•US Politics
US Politics
GOP bill could add trillions to the U.S. deficit, some experts say. Here's what to know.
86% Informative
Moody's Ratings cites potential for the new bill to add $4 trillion to the U.S. primary deficit over the next decade .
The White House says the bill does not add to the deficit.
The House Freedom Caucus says it "fails to actually honor our promise to significantly correct the spending trajectory of the federal government".
The GOP tax bill is likely to change as it winds through the House .
Democrats have decried the cuts Republicans are proposing to Medicaid and food stamps to offset the costs of the tax bill.
The lowest-income Americans would end up paying more under the proposed GOP bill, a Penn Wharton Budget Model says.
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